Wells Fargo Bank Minnesota, N.A. SHT Series 2004-1 Certificateholder Distribution Statement (March 31, 2005)

Contract Categories: Business Operations › Administration Agreements
Summary

This document is a distribution statement prepared by Wells Fargo Bank Minnesota, N.A. as Certificate Administrator for the SHT Series 2004-1. It summarizes the distribution of principal and interest to certificateholders as of March 31, 2005, including payment amounts, outstanding balances, and servicing fees. The statement details how funds were allocated among different certificate classes, reports on realized losses (if any), and confirms compliance with the Pooling and Servicing Agreement. No realized losses or interest shortfalls are reported for this period.

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EX-10.1 2 f08876jexv10w1.txt EXHIBIT 10.1 EXHIBIT 10.1 CONTACT: CUSTOMER SERVICES -- CTSLINK WELLS FARGO BANK MINNESOTA, N.A. SECURITIES ADMINISTRATION SERVICES 7485 NEW HORIZON WAY FREDERICK, MD 21703 WWW.CTSLINK.COM TELEPHONE: (301) 815-6600 FAX: (301) 315-6660 SHT SERIES 2004-1 RECORD DATE: MARCH 31, 2005 DISTRIBUTION DATE: APRIL 20, 2005 CERTIFICATEHOLDER DISTRIBUTION SUMMARY
Certificate Beginning Current Class Certificate Pass- Certificate Interest Principal Realized Class CUSIP Description Through Rate Balance Distribution Distribution Loss - ------ --------- ----------- ----------------- -------------- ------------ ------------- -------- NOTE 817419AA2 SEN 3.08000% 268,627,949.61 689,478.40 11,136,871.53 0.00 L SHT04002L DRAW 0.00000% 0.00 0.00 0.00 0.00 O SHT04002O OC 0.00000% 3,963,051.02 398,850.69 0.00 0.00 AMBAC FEE 0.12000% 0.00 26,862.79 0.00 0.00 ------- -------------- ------------ ------------- ---- Totals 272,591,000.63 1,115,191.88 11,136,871.53 0.00 ------- -------------- ------------ ------------- ---- Ending Certificate Total Cumulative Class Balance Distribution Realized Loss - ------ ------------------ ------------- ------------- NOTE 257,491,078.08 11,826,349.93 0.00 L 0.00 0.00 0.00 O 3,963,051.02 398,850.69 0.00 AMBAC 0.00 26,862.79 0.00 -------------- ------------- ---- Totals 261,454,129.10 12,252,063.41 0.00 -------------- ------------- ----
All distributions required by the Pooling and Servicing Agreement have been calculated by the Certificate Administrator on behalf of the Trustee. PRINCIPAL DISTRIBUTION STATEMENT
Beginning Scheduled Unscheduled Original Face Certificate Principal Principal Realized Total Principal Class Amount Balance Distribution Distribution Accretion Loss (1) Reduction - ------ -------------- -------------- ------------ ------------- --------- -------- --------------- NOTE 317,044,000.00 268,627,949.61 0.00 11,136,871.53 0.00 0.00 11,136,871.53 L 0.00 0.00 0.00 0.00 0.00 0.00 0.00 O 81.98 3,963,051.02 0.00 0.00 0.00 0.00 0.00 AMBAC 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -------------- -------------- ---- ------------- ---- ---- ------------- Totals 317,044,081.98 272,591,000.63 0.00 11,136,871.53 0.00 0.00 11,136,871.53 -------------- -------------- ---- ------------- ---- ---- ------------- Ending Certificate Ending Certificate Total Principal Class Balance Percentage Distribution - ------ ------------------ ------------------ --------------- NOTE 257,491,078.08 0.81216197 11,136,871.53 L 0.00 0.00000000 0.00 O 3,963,051.02 48,341.68114174 0.00 AMBAC 0.00 0.00000000 0.00 -------------- --------------- ------------- Totals 261,454,129.10 0.82466176 11,136,871.53 -------------- --------------- -------------
(1) Amount does not include excess special hazard, bankruptcy, or fraud losses unless otherwise disclosed. Please refer to the prospectus supplement for a full description. PRINCIPAL DISTRIBUTION FACTORS STATEMENT
Scheduled Unscheduled Total Original Face Beginning Principal Principal Realized Principal Class Amount Certificate Balance Distribution Distribution Accretion Loss (3) Reduction - ----- -------------- ------------------- ------------ ------------ ---------- ---------- ----------- NOTE 317,044,000.00 847.28917630 0.00000000 35.12721114 0.00000000 0.00000000 35.12721114 L 0.00 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 O ###-###-####.14174190 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 AMBAC 0.00 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 Ending Total Ending Certificate Certificate Principal Class Balance Percentage Distribution - ----- ------------------ -------------- ------------ NOTE 812.16196515 0.81216197 35.12721114 L 0.00000000 0.00000000 0.00000000 O 48341681.14174190 48341.68114174 0.00000000 AMBAC 0.00000000 0.00000000 0.00000000
(3) Amount does not include excess special hazard, bankruptcy, or fraud losses unless otherwise disclosed. Please refer to the prospectus supplement for a full description. INTEREST DISTRIBUTION STATEMENT
Beginning Payment of Non- Certificate/ Current Unpaid Current Supported Original Face Current Notional Accrued Interest Interest Interest Class Amount Certificate Rate Balance Interest Shortfall Shortfall Shortfall - ----- -------------- ---------------- -------------- ---------- ---------- --------- --------- NOTE 317,044,000.00 3.08000% 268,627,949.61 689,478.40 0.00 0.00 0.00 L 0.00 0.00000% 0.00 0.00 0.00 0.00 0.00 O 81.98 0.00000% 3,963,051.02 0.00 0.00 0.00 0.00 AMBAC 0.00 0.12000% 268,627,949.61 26,862.79 0.00 0.00 0.00 -------------- ------- -------------- ---------- ---- ---- ---- Totals 317,044,081.98 716,341.19 0.00 0.00 0.00 -------------- ------- -------------- ---------- ---- ---- ---- Remaining Ending Unpaid Certificate/ Realized Total Interest Interest Notational Class Loss (4) Distribution Shortfall Balance - ----- -------- -------------- --------- -------------- NOTE 0.00 689,478.40 0.00 257,491,078.08 L 0.00 0.00 0.00 0.00 O 0.00 398,850.69 0.00 3,963,051.02 AMBAC 0.00 26,862.79 0.00 257,491,078.08 ---- ------------ ---- -------------- Totals 0.00 1,115,191.88 0.00 ---- ------------ ---- --------------
(4) Amount does not include excess special hazard, bankruptcy, or fraud losses unless otherwise disclosed. Please refer to the prospectus supplement for a full description. INTEREST DISTRIBUTION FACTORS STATEMENT
Payment of Non- Current Unpaid Current Supported Original Face Current Beginning Certificate/ Accrued Interest Interest Interest Class (5) Amount Certificate Rate Notional Balance Interest Shortfall Shortfall Shortfall - --------- -------------- ---------------- ---------------------- ---------- ---------- ---------- ---------- NOTE 317,044,000.00 3.08000% 847.28917630 2.17470887 0.00000000 0.00000000 0.00000000 L 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 O 81.98 0.00000% 48341681.14174190 0.00000000 0.00000000 0.00000000 0.00000000 AMBAC 0.00 0.12000% 847.28917630 0.08472890 0.00000000 0.00000000 0.00000000 Remaining Unpaid Realized Total Interest Interest Ending Certificate/ Class (5) Loss (6) Distribution Shortfall Notational Balance - --------- ---------- ---------------- ---------- ------------------- NOTE 0.00000000 2.17470887 0.00000000 812.16196515 L 0.00000000 0.00000000 0.00000000 0.00000000 O 0.00000000 ###-###-####.44376677 0.00000000 48341681.14174190 AMBAC 0.00000000 0.08472890 0.00000000 812.16196515
(5) Per $1 denomination (6) Amount does not include excess special hazard, bankruptcy, or fraud losses unless otherwise disclosed. Please refer to the prospectus supplement for a full description. CERTIFICATEHOLDER ACCOUNT STATEMENT CERTIFICATE ACCOUNT Beginning Balance 0.00 Deposits Payments of Interest and Principal 12,365,530.02 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 0.00 Realized Losses (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties 0.00 ------------- Total Deposits 12,365,530.02 Withdrawals Reimbursement for Servicer Advances 0.00 Payment of Service Fee 113,466.60 Payment of Interest and Principal 12,252,063.42 ------------- Total Withdrawals (Pool Distribution Amount) 12,365,530.02 Ending Balance 0.00 =============
PREPAYMENT/CURTAILMENT INTEREST SHORTFALL Total Prepayment/Curtailment Interest Shortfall 0.00 Servicing Fee Support 0.00 ---- Non-Supported Prepayment Curtailment Interest Shortfall 0.00 ====
SERVICING FEES Gross Servicing Fee 110,059.21 Master Servicing Fee 3,407.39 Supported Prepayment/Curtailment Interest Shortfall 0.00 ---------- Net Servicing Fee 113,466.60 ==========
OTHER ACCOUNTS
Beginning Current Current Ending Account Type Balance Withdrawals Deposits Balance ------------ --------- ----------- -------- ------- Financial Guaranty 0.00 0.00 0.00 0.00
LOAN STATUS STRATIFICATION/CREDIT ENHANCEMENT STATEMENT
DELINQUENT BANKRUPTCY FORECLOSURE - -------------------------------- --------------------------------- -------------------------------- No. of Principal No. of Principal No. of Principal Loans Balance Loans Balance Loans Balance 0-29 Days 0 0.00 0-29 Days 4 222,897.22 0-29 Days 0 0.00 30 Days 2 68,657.55 30 Days 0 0.00 30 Days 0 0.00 60 Days 0 0.00 60 Days 0 0.00 60 Days 0 0.00 90 Days 0 0.00 90 Days 0 0.00 90 Days 0 0.00 120 Days 0 0.00 120 Days 0 0.00 120 Days 0 0.00 150 Days 0 0.00 150 Days 0 0.00 150 Days 0 0.00 180+ Days 0 0.00 180+ Days 0 0.00 180+ Days 0 0.00 -------- --------- -------- ---------- -------- -------- 2 68,657.55 4 222,897.22 0 0.00 No. of Principal No. of Principal No. of Principal Loans Balance Loans Balance Loans Balance 0-29 Days 0.000000% 0.000000% 0-29 Days 0.094073% 0.085253% 0-29 Days 0.000000% 0.000000% 30 Days 0.047037% 0.026260% 30 Days 0.000000% 0.000000% 30 Days 0.000000% 0.000000% 60 Days 0.000000% 0.000000% 60 Days 0.000000% 0.000000% 60 Days 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% -------- --------- -------- ---------- -------- -------- 0.047037% 0.026260% 0.094073% 0.085253% 0.000000% 0.000000% REO TOTAL - ------------------------------ --------------------------------- No. of Principal No. of Principal Loans Balance Loans Balance 0-29 Days 0 0.00 0-29 Days 4 222,897.22 30 Days 0 0.00 30 Days 2 68,657.55 60 Days 0 0.00 60 Days 0 0.00 90 Days 0 0.00 90 Days 0 0.00 120 Days 0 0.00 120 Days 0 0.00 150 Days 0 0.00 150 Days 0 0.00 180+ Days 0 0.00 180+ Days 0 0.00 -------- -------- -------- ---------- 0 0.00 6 291,554.77 No. of Principal No. of Principal Loans Balance Loans Balance 0-29 Days 0.000000% 0.000000% 0-29 Days 0.094073% 0.085253% 30 Days 0.000000% 0.000000% 30 Days 0.047037% 0.026260% 60 Days 0.000000% 0.000000% 60 Days 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% -------- -------- -------- ---------- 0.000000% 0.000000% 0.141110% 0.111513%
Current Period Class A Insufficient Funds: 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 0.00
Class L 81.98 0.00002586% 3,963,051.02 1.53910227% 0.000000% 0.000000% Class O 0.00 0.00000000% 0.00 0.00000000% 1.539102% 0.000000%
Please refer to the prospectus supplement for a full description of loss exposure COLLATERAL STATEMENT
Collateral Description Mixed Arm Weighted Average Gross Coupon 5.408800% Weighted Average Net Coupon 4.924297% Weighted Average Pass-Through Rate 4.909297% Weighted Average Maturity (Stepdown Calculation) 116 Beginning Scheduled Collateral Loan Count 4,400 Number of Loans Paid in Full 148 Ending Scheduled Collateral Loan Count 4,252 Beginning Scheduled Collateral Balance 268,627,949.61 Ending Scheduled Collateral Balance 257,491,078.08 Ending Actual Collateral Balance at 31-Mar-2005 261,454,129.10 Monthly P&I Constant 0.00 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00
MISCELLANEOUS REPORTING Additional Balance Contributed Amount 0.00 Additional Balance 9,075,721.00 Cumulative Loss Percent 0.00000% Managed Amortization Period YES Overcollateralization Amount 3,963,051.02 Six Month Rolling Delinquency 0 ###-###-####% Specified Overcollateralization Amount 3,963,051.02 3 Largest Loan Balance 5,583,441.03 Draw Amount 9,075,721.00 Rapid Amortization Event NO Excess Cashflow 398,850.70